The three-year bonds due on October 15, 2014 will be issued at a coupon of 7.30 percent per year, Director General of Debt Management at the Finance Ministry Rahmat Waluyanto said in a statement on Thursday.
The allotment date of the bonds will be October 24, 2011 and the settlement date on October 26, 2011.`
Subscription to the state bonds is set at a minimum of Rp5 million and a maximum of Rp3 billion with coupon payments on every 15th.
"Coupon payments will for the first time be made on December 15, 2011. The coupon will be profitable because it is higher than the average deposit rate of state banks. In addition, ORI will be profitable because it can be traded," he said.
He said the aim of issuing ORI008 was to meet part of the financing target in the revised state budget as well as to develop the domestic market of state debt securities by diversifying financing source instruments and expanding investor`s bases.(*)
Editor: Aditia Maruli Radja
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